Deposit Guarantee Fund's financial resources in Ukraine shrink by 22% to almost US$406 mln in March

Financial resources of the Deposit Guarantee Fund (DGF) of Ukraine as of April 1, 2019, amounted to UAH 10.880 billion, or US$405.8 million, which was 22% down from the figure reported as of March 1, 2019.

Since year-start, the resources had shrunk by 24%, according to the DGF data.

It is noted that the proceeds from the regular collection over the three months totaled UAH 893 million ($33.3 million). As reported, there are 77 participating banks in the Fund's register.

The Fund also continues the procedure to liquidate 87 banks declared insolvent from 2014 to 2018, the report said.

Read alsoPoroshenko: Extension of farmland sale moratorium directly linked with corruption

Earlier, on April 10, the DGF announced the early repayment of UAH 3.25 billion ($121.2 million) in debt to the Ukrainian Finance Ministry.

UNIAN memo. The financial resources of the Deposit Guarantee Fund in 2018 shrank by 0.1% to UAH 14.339 billion ($534.8 million).

Ukraine's Deposit Guarantee Fund was established in 1999, becoming a state-owned specialized institution that performs the functions of state management in the field of guaranteeing deposits of individuals and removing insolvent banks from the market.

The guaranteed amount of deposits was set at UAH 200,000 ($7,460) per bank account in October 2012.